U.S. Antimony Reports Antimony Price Increase and Large Zeolite Order
United States Antimony Corporation ("USAC", NYSE MKT "UAMY") reported the following sales for April:
|BRZ zeolite tons||1,253|
|Gold from Australia ounces||60.109|
Production of antimony during April was actually 349,224 pounds that had been sold but 128,079 had not been delivered. Zeolite sales were good despite bad weather conditions. Additionally, BRZ, a wholly owned subsidiary of USAC, has received a new order for 1,400 tons of zeolite for the mining industry. The shipment of this order could be as fast as 160 tons per week.
USAC reported that the Rotterdam price for antimony metal has increased from $2.449 per pound on April 1 to $2.834 on April 25, a 15.7% increase. The Rotterdam pricing is fundamental to Europe where inventories are low. The increase in prices will begin to impact USAC sales by the end of May.
The two largest impediments to the profitability of USAC have been (1) the decline in the price of antimony from $8.11 per pound in April 2011 to $2.27 in January 2016, a 72% decrease, and (2) the "non production Mexican expenses" that have been included in the cost of antimony production. These costs include the holding costs of mines and mills in Mexico that have been idle due to a lack of furnace capacity at Madero and the solving of the Los Juarez metallurgical problems. To solve this second problem, in April the processing of Wadley hand sorted ore and concentrates was begun at Madero. Additionally, the SEMARNAT (our equivalent of the EPA) Environmental Impact Statement and Risk Analysis Study will be filed in May to permit the installation of the cyanide leach plant at the Puerto Blanco mill in Guanajuato. The permit, when issued, will also start the significant production of gold and silver from the Los Juarez property.
CEO John Lawrence said "the increase in the price of antimony is what we have been waiting for and the processing of the Mexican ore inventory will supplement income to fund the Los Juarez leach plant. Additionally, new applications of zeolite remain exciting."
About U.S. Antimony
US Antimony is a growing, vertically-integrated natural resource company that has production and diversified operations in precious metals, zeolite and antimony.
Forward Looking Statements:
This Press Release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 that are based upon current expectations or beliefs, as well as a number of assumptions about future events, including matters related to the Company's operations, pending contracts and future revenues, ability to execute on its increased production and installation schedules for planned capital expenditures and the size of forecasted deposits. Although the Company believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties. In addition, other factors that could cause actual results to differ materially are discussed in the Company's most recent filings, including Form 10-KSB with the Securities and Exchange Commission.
United States Antimony Corporation
John Lawrence, 406-827-3523